Recent Updates
- Finland: Bankruptcy Filings (May); Sweden: Economic Tendency Survey (Jun), Financial Accounts (Q1)
- Germany: PPI (May)
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Economy in Brief
U.S. Energy Prices Are Mixed
Retail gasoline prices slipped to $2.88 per gallon last week (+24.2% y/y)...
U.S. Home Builder Index Backpedals
The Composite Housing Market Index from the NAHB-Wells Fargo fell 2.9% (+3.0% y/y) to 68 during June ...
Japan's Loses Its Trade Surplus
In May, Japan has logged its second trade deficit in 13 months and only its third in the last 28 months...
U.S. Industrial Production Slips Unexpectedly
The Federal Reserve reported that industrial production eased 0.1% (+3.5% y/y) during May...
Empire State Manufacturing Index Continues to Strengthen
The Empire State Manufacturing Index of General Business Conditions rose to 25.0 during June, the highest level in eight months...
by Tom Moeller November 27, 2007
On average, retail gasoline prices last week held at the prior period's level of $3.10 per gallon, according to the US Department of Energy survey.
Divided by consumer prices other than energy, these gasoline prices are just below the high reached in 1981.
Yesterday, prices for spot WTI crude oil stood at $97.71 per barrel, down slightly from last week's average.
In perhaps a favorable sign for home heating bills this season, natural gas prices continued the move sideways at the high end of the recent $6.5 - $7.5 per mmbtu range (-0.3% y/y).
Gold prices continued to hover around the $800 per ounce level and the level surpassed the previous record price reached in early 1980.
Oil Shocks and Price Stability from the Federal Reserve Bank of St. Louis is available here.
| Weekly Prices | 11/26/07 | 11/19/07 | Y/Y | 2006 | 2005 | 2004 |
|---|---|---|---|---|---|---|
| Retail Gasoline ($ per Gallon) | 3.10 | 3.10 | 37.9% | 2.57 | 2.27 | 1.85 |
| Light Sweet Crude Oil, WTI ($ per bbl.) | 98.83 | 91.18 | 70.3% | 61.11 | 58.16 | 41.78 |
| Gold: Handy & Harmon ($ per Troy Oz.) | $795.50 | $804.25 | 27.4% | 628.70 | $507.40 | $443.40 |
